• White House floats limited stablecoin rewards in 3rd crypto, bank meeting White House crypto adviser Patrick Witt reportedly refocused crypto and bank lobby talks on a crypto bill to allow stablecoin rewards tied to transaction activity. • Cointelegraph in your social feed The White House has reportedly refocused talks between crypto and bank lobbyists on limiting how stablecoin rewards should be paid in the third meeting between the two groups over a crypto market structure bill. • Crypto and banking industry representatives met at the White House on Thursday for the third time in 16 days to discuss stablecoin provisions that have stalled the crypto bill which the Senate is looking to pass. • No agreement was reached on Thursday, but executives at Coinbase and Ripple said progress was made as one of the White House’s crypto advisers urged a trade-off to let third parties, such as exchanges, offer stablecoin rewards only on transaction activity, not balances. • “We rolled up our sleeves and went through specific language today,” Ripple’s chief legal officer, Stuart Alderoty,postedto X on Thursday. • Coinbase’s legal head, Paul Grewal,saidthe meeting was “constructive and the tone cooperative.” Blockchain Association CEO Summer Mersingersaidthe meeting was a “step forward” in resolving issues related to stablecoin rewards and ensuring that crypto market structure legislation is advanced.

Article Summaries:

  • The White House convened a third meeting in 16 days with crypto firms and banking lobbyists to address a key hurdle in the Senate’s crypto‑market‑structure bill. White House crypto adviser Patrick Witt urged a compromise that would let exchanges offer stablecoin rewards only on transaction activity, not on idle balances-a point that has stalled the bill. Executives from Coinbase and Ripple said progress was made, while banking groups remain cautious, citing competitive pressures rather than deposit flight. No agreement was reached, but the discussion is expected to continue as the Senate seeks bipartisan support for the legislation.

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